Labour Market Outlook
Posted on 26th June 2023 at 13:23
As the UK narrowly avoids a recession, many employers are still recruiting, with many having hard-to-fill vacancies, 2 in 5 employers (42%) report having problems filling vacancies, particularly within education and healthcare.
This situation is expected to continue for the next 6 months. With the Office for National Statistics reporting 1.1 million vacancies in December 2022 to February 2023.
To combat these recruitment problems employers have responded by upskilling more existing staff and raising wages. Average pay growth for the private sector is reported as being 6.9% (ONS). In the future, employers are also looking to improve job quality, this may include offering better contracts, for example, guaranteed hours, improving work-life balance through offering flexibility, improving relationships at work, introducing wellbeing programmes, improving benefits offered
